Добавил:
Upload Опубликованный материал нарушает ваши авторские права? Сообщите нам.
Вуз: Предмет: Файл:
Латыгина Базовый курс економики на англ.doc
Скачиваний:
491
Добавлен:
08.02.2016
Размер:
3.85 Mб
Скачать

Market and market orientation

A market for a product is the people or organizations who buy it or may buy it, or an area where it is sold. There exist different types of markets: street markets, shops and supermarkets, markets for services (e.g. restaurants), financial markets, commodity markets (e.g. coffee, tin).

A company’s or product’s target market is a group of consumers a company aims to sell its products to, for example children, housewives, fishermen, etc.

As an indication for the success of a business market share is often used which is the proportion of sales that a company or a product has in a particular market. The market leader is the company or product with the biggest share.

A firm usually focuses its attention on a market segment. Market segment is the part of a market consisting of consumers with similar characteristics. Ways in which a market might be segmented include age, income, lifestyle, geographical location.

A market niche is a small, specific segment of the market, often dominated by small firms selling some kind of goods.

Marketers often talk about market orientation: the fact that everything they do is designed to meet the needs of the market.

Companies quick to respond to the needs of a market are market-driven, market-led or market-oriented. A market-oriented approach to developing a product is one which puts the desires of the consumer at the centre of the decision about what to produce.

To make decisions about products companies do a market research which is the collection of information on markets, products and consumers; on what people need, want, and buy; how and when they buy and why they buy one thing rather than another.

Exercises in Word Study

Ex.1. Form nouns from the following verbs:

produce, organize, exist, differ, indicate, characterize, locate, dominate, decide, collect.

Ex.2. The following words can be used in more than one way. Underline the correct part of speech for each word as it is used in the text.

market

a) noun

b) verb

aim

a) noun

b) verb

share

a) noun

b) verb

desire

a) noun

b) verb

produce

a) noun

b) verb

research

a) noun

b) verb

segment

a) noun

b) verb

need

a) noun

b) verb

Ex.3. Give the English for:

товарний ринок, цільовий ринок, група споживачів, фінансовий ринок, частка ринку, сегмент ринку, прибуток, ринкова ніша, ринковий підхід, створювати продукт, ринкова орієнтація.

Ex. 4. Match words from list A with words from list B that have a similar meaning:

A

B

share

respond

market-driven

income

desire

indication

housewife

aim

product

output

target

homemaker

sign

reply

wish

earnings

market-led

segment

Ex.5. Find suitable opposites to the following words:

failure, part, whole, slow, general.

Ex.6. Fill in suitable nouns to form two-word expressions. Translate these expressions into Ukrainian.

  1. ________ orientation

  2. ________ share

  3. target _________

  4. ________ segment

  5. commodity _______

  6. _________ niche

  7. free ____________

  8. ________ economy

  9. ________ price

  10. ________ reform

Ex.7. Match the word combinations in the left hand column with the verbs in the right hand column and translate them into Ukrainian:

market leader

market price

market research

market share

increase

lose

carry out

do

charge

pay

become

remain

Ex.8. The words in the box frequently occur after “market”.

Find combinations that mean:

  1. the company that sells the largest amount of a specific commodity in a particular area; the brand or make of goods that sells the most;

  2. the price of a raw material, product, service, etc. that is charged in a free or competitive market;

  3. study carried out by a company before launching a new product, into the needs, lifestyles, incomes, etc. of potential buyers;

  4. the percentage of the total sales of a certain product in a particular area or country obtained by one company;

  5. that part of a market which consists of consumers with similar characteristics;

  6. a pattern or change in buying and selling activities;

  7. the act of obtaining a larger market share by increasing advertising, promotion, etc.

  8. an economic system in which individuals and firms are free to enter and leave markets at will;

  9. changes a government makes to an economy, so that it becomes more like a market economy;

  10. the way a market economy makes sellers produce what people want, at prices they are willing to pay.